Lead to still have role as lithium-ion battery growth escalates, Aqua Metals says

Lead-acid batteries (LABs) will continue to coexist with their lithium-ion counterparts for the time being, although growth in the latter will rapidly escalate in the coming years, the president and chief executive officer of Aqua Metals said.

Steve Cotton told Fastmarkets that the energy storage industry was growing at a very rapid clip in support of the electrification of transportation, allowing LABs - which are integral to batteries for vehicles, provide backup power for hospitals, electrify households, and are the primary energy storage mode for buildings, data centers and telecom - to still play a key role. “My 2015 Tesla electric vehicle (EV) contains its fourth LAB; the lithium-ion pack propels the vehicle forward, the LAB does everything else. So, the LAB industry will continue to maintain and grow but at much more of a mature industry clip, with forecasts of around 3-4% cumulative annual growth globally,” he said in an interview. “In the meantime, the lithium industry and metals associated with lithium-ion batteries are seeing demand grow at 30-40% annually and are expected to meet, and then exceed, the LAB industry in dollar value of those...

Published

Andrea Hotter

November 29, 2021

20:40 GMT

New York